Optimal portfolio rules are derived under uncertainty aversion by formulating the portfolio choice problem as a robust control problem. The robust portfolio rule indicates that the total holdings of risky assets as a proportion of the investor’s wealth could increase as compared to the...

Safety rules are developed, for biodiversity preservation. These rules are designed to take into account the impact of uncertainty and worst case scenarios, which when combined with unregulated ecosystem management decisions, might produce extinction of species. The safety rules take the form of...

Optimal portfolio rules are derived under uncertainty aversion by formulating the portfolio choice problem as a robust control problem. Using a power utility function of the form C with 0 1; we present the solution of the robust portfolio choice problem in the cases of one and two risky assets....

This paper adapts Turing analysis and applies it to dynamic bioeconomic problems where the inter- action of coupled economic and ecological dynamics over space endogenously creates (or destroys) spatial heterogeneity. It also extends Turing analysis to standard recursive optimal control frame-...